COMPANIES | PRODUCTION AND RESULTS

Mowi reaches record second-quarter harvest of 150,000 tonnes and lowers farming costs

Oslo, Norway, 15 July 2026 | The group exceeded its guidance for the period by 10,000 tonnes and increased operational EBIT by 23%, although major differences in profitability remained across its farming regions

MOWI - Granja Noruega

Mowi harvested 150,000 tonnes of salmon in the second quarter of 2026, up 13% from the 133,000 tonnes recorded in the same period last year. This was the company’s highest-ever harvest volume for a second quarter and exceeded the guidance issued alongside its January-to-March results by 10,000 tonnes.

Norway once again accounted for the largest share of production, with 85,000 tonnes, followed by Scotland with 26,500 tonnes and Chile with 17,500 tonnes. Canada contributed 10,000 tonnes, while Arctic Fish in Iceland harvested 5,500 tonnes. Ireland and the Faroe Islands completed the total with 3,000 and 2,500 tonnes respectively. All figures are stated in gutted weight equivalent.

The increase in production was accompanied by a reduction in average farming costs. Mowi reported a blended farming cost of EUR 5.21 per kilogramme, compared with EUR 5.39 per kilogramme in the second quarter of 2025. According to the company, the EUR 0.18 per kilogramme improvement represented savings of approximately EUR 24 million.

Group operational EBIT reached approximately EUR 231 million, 23% above the EUR 189 million reported a year earlier. The figures indicate that operational earnings increased faster than harvested volume, although performance varied considerably between regions.

Canada recorded the highest operational EBIT per kilogramme at EUR 2.05, followed by Norway at EUR 1.85 and Scotland at EUR 1.80. The Faroe Islands generated EUR 1.60 per kilogramme, while Chile stood at EUR 0.35. Ireland and Iceland posted negative results, with operational losses of EUR 0.15 and EUR 0.40 per kilogramme respectively.

Outside the farming division, Consumer Products generated operational EBIT of EUR 29 million, while the Feed business reported operational EBITDA of EUR 16 million. The group’s net interest-bearing debt stood at approximately EUR 2.807 billion at the end of the quarter, excluding IFRS 16 effects.

The figures are preliminary and do not yet show how much of the improvement was driven by prices, biological performance, harvest composition or other operational factors. Mowi will publish its full second-quarter report on 18 August, when it is expected to provide more detailed information on costs, operational performance and its outlook for the remainder of 2026.